Life insurance is the
cornerstone of sound financial planning. Life
insurance is generally cost-effective and is a
crucial step in planning for your future and the
future of your loved ones.
Benefits of having adequate life insurance
coverage:
-
 Life
insurance proceeds can be structured to pay
estate taxes so your heirs will not
have to liquidate other assets.
-
Life insurance proceeds can
allow your family
maintain their standard of living and
cover everyday expenses such as
groceries, bills, rent, the
mortgage, etc.
-
Life insurance proceeds
can provide the funds to cover the
costs of a proper burial so your
loved ones don't have to worry about
the expense.
-
Life insurance proceeds
can be used to pay off credit card debt,
college tuition, and medical
expenses not covered by health
insurance.
-
Life
insurance proceeds can
provide the funds to pay off the
mortgage on your home so your family can stay in
the house and not be forced to sell
it.
-
Life insurance proceeds
can be designated to go to
charitable organization(s).
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NOTE: Portions of the above
information have been graciously provided by The
Insurance Institute
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